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The actions were announced Tuesday afternoon by the U.S. District Attorney of Eastern Virginia’s office. PPP was a federal program from the Small Business Administration that was designed to ...
Facing numerous federal investigations into its PPP lending practices, Kabbage or, to be more accurate, the shell of what was once Kabbage, filed for bankruptcy this week. Kabbage was acquired by ...
Congressional investigators identified multiple areas of potential waste and fraud in PPP, part of the $2 trillion CARES Act, which offered qualifying small businesses up to $10 million in ...
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
Several Triangle residents have pled guilty to taking part in a nationwide scheme to defraud the government out of Paycheck Protection Program loans during the pandemic.
Of that amount, $60 billion is for PPP loans made by small banks, small credit unions, and community financial institutions. [19] [20] Appropriates an additional $10 billion for emergency Economic Injury Disaster Loans. [21] [20] Expands eligibility for emergency Economic Injury Disaster Loans to farms and agricultural-related businesses. [22] [20]
The scam using doll faces to create false IDs made up a small part of the estimated $80bn in fraud connected to the Paycheck Protection Program (PPP), according to The Messenger.
Yahoo Finance's Akiko Fujita breaks down how fraud is being detected in the PPP loan program amid the coronavirus pandemic. How lenders are leveraging tech to root out PPP fraud [Video] Skip to ...